RFA: RFS Not to Blame for Refinery Bankruptcy

Philadelphia Energy Solutions, (PES) the largest oil refinery on the east coast, filed for bankruptcy protection last week, blaming the Renewable Fuel Standard for its financial problems, but Renewable Fuels Association CEO Bob Dinneen disagrees.

In an op-ed in The Hill today, Dinneen says PES has no one to blame but itself. “PES operates one of the nation’s oldest refineries, which is handicapped by hopelessly antiquated technology,” said Dinneen. “Like other refiners, PES could have eliminated its RINs-related costs by making investments in blending more renewable fuels. Instead, PES is blaming RINS for its financial woes.”